The Director General of the Ministry of Economy, Mohammad Abu Haidar, stated that the war inflicted losses estimated at $12 billion to $15 billion on Lebanon’s economy, with direct losses exceeding 50%.
In an interview with the local channel MTV, he explained that the war’s repercussions have deprived the country of revenues typically generated during the holiday season. However, he emphasized that recovery is possible, provided the necessary economic reforms are implemented.
Abu Haidar emphasized the need to reassess trade agreements with Syria in order to better control the borders and curb smuggling, which is depleting the national economy. He highlighted the importance of protecting legitimate institutions and supporting productive sectors as crucial steps for economic recovery.
As part of efforts to tackle “crisis exploitation,” he confirmed that several traders have been referred to the judiciary. He added that the Ministry is working on monitoring prices and overseeing service quality.
He stressed that the necessary reforms require coordinated efforts to achieve sustainable development. In his view, border control and the prevention of illegal economic activity are among the top priorities for the next phase.
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